Home > Electronics & Media > Printed Circuit Board (PCB) Market

Printed Circuit Board (PCB) Market Size, By PCB Type (Single Sided, Double Sided, Multi-layered, High Density Interconnect (HDI)), By Substrate (Rigid, Flexible, Rigid-flex), By Application (Consumer Electronics, Automotive, Healthcare, IT & Telecom, Industrial), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI5035
  • Base Year: 2020
  • Report Format: PDF

Industry Trends

Printed Circuit Board Market size exceeded USD 60 billion in 2020 and is anticipated to grow at a CAGR of over 3% from 2021 to 2027. The rising trend of miniaturization has accelerated the market potential for small, light weighted, and high-performance printed circuit boards in smart wearables, medical devices, and various portable electronics.

Printed Circuit Boards (PCB) Market Overview

Get more details on this report - Request Free Sample PDF

Several end-user OEMs are focusing on customized PCB designs to increase miniaturization and achieve desired shape, according to application requirements. This has further boosted the development of 3D printing to deliver compact printed circuit boards by placing components on the interior layer.

The increasing demand for additive manufacturing in the electronics sector to deliver precise components will foster market opportunities for printed circuit boards in the coming years. Additive manufacturing has influenced the designing of PCBs beyond the prototyping stages, which further improve the functionality and performance of the devices. Therefore, continuous development in additive manufacturing and 3D printing will drive the market growth.

The COVID-19 outbreak has moderately affected the PCB market expansion due to the supply chain fallout and a decline in demand from the industrial & automotive sector. The majority of the OEMs have their supply chain passing from China and East Asian countries. Although the production from China is recovering, several nations are following strict export laws to ramp up their safety measures. This has resulted in the shortage of printed circuit boards in various industries around the globe. The increasing number of causalities has propelled the demand for various medical equipment and monitoring devices such as respiratory support systems and ventilators. This will fuel the market opportunities for companies operating in the industry.

Increasing demand for miniaturization in the medical sector will foster the multi layered PCB market progression

The multi layered PCBs held 30% of the market share in 2020 and is projected to witness 6% growth rate through 2027. The growth is led by an increase in the number of components and high-density of connections required in modern PCBs. Multi layered PCBs deliver high functionality with lightweight and improved compactness, increasing their demand in laptops, smartphones, and various handheld devices.

Rising trend toward non-invasive treatment in the medical sector will further stimulate the market value for multi layered PCBs to meet the growing demand for miniature devices. Manufacturers in the medical industry are opting for multi layered PCBs to overcome the chances of crosstalk in critical medical applications such as infrared temperature monitoring, MRI, X-ray equipment, CT scan, ventilators, etc. The ongoing COVID-19 pandemic has further accelerated the demand for monitoring devices in the medical sector, which will augment the industry growth.

Proliferation of industrial automation to create market opportunities for rigid printed circuit boards

Printed Circuit Boards Market Share

Get more details on this report - Request Free Sample PDF

The rigid segment in the PCB market dominated more than 90% of revenue share in 2020 and is estimated to attain a CAGR of 1% till 2027. A rigid PCB uses fiber glass substrate, which makes it practically inexpensive compared to other PCB substrates. Additionally, the compact size of rigid printed circuit board ensures its adoption in complex circuitry and heavy-duty applications, which involve high frequency and voltage variation. This has further enhanced the industry expansion in industrial automation applications such as robots, pressure controllers, and other automation machinery. The rising trend of automated machinery and industrial robots in manufacturing plants will propel the industry progression of rigid PCBs.

Growing demand for IoT devices will spur the printed circuit board market revenue

PCB Market Demand

Get more details on this report - Request Free Sample PDF

The consumer electronics application will account for 50% of the PCB market share by 2027 owing to the rising preferences for IoT and smart home devices. Consumer electronics manufacturers are focusing on advanced PCB alternatives, such as flex, to deliver high compactness and battery powering of IoT devices. The proliferation of IoT and connected devices will boost the market potential of PCB manufacturers in the coming years.

Rising deployment of 5G infrastructure in South Korea to drive the market demand

APAC Printed Circuit Boards Market

Get more details on this report - Request Free Sample PDF

Asia Pacific printed circuit boards market captured 60% of revenue share in 2020 and is poised to expand at 3% CAGR during 2021 to 2027. Growth is impelled by the increasing deployment of 5G network in China, South Korea, and Japan. In March 2020, South Korea’s Ministry of Science and ICT announced that the country’s major telecom operators, KT, SK Telecom and LG Uplus have invested around USD 3.365 billion in the deployment of 5G network infrastructure in the first half of 2020. This will spur the growth opportunities for printed circuit board manufacturers in the region.

New collaboration and partnership strategies to stay competitive in the market

Some of the major players operating in the PCB market are Nippon Mektron Ltd., Fujikura Ltd., Sumitomo Electric Industries, Nitto Denko Corporation, Unimicron Technology Corporation, Advanced Circuits Inc., and TTM Technologies, Inc. These industry leaders are continuous involved in acquisition and merger strategies to accelerate their market position among other participants.

The printed circuit board market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue from 2016 to 2027 for the following segments:

Market, By PCB Type

  • Single sided
  • Double sided
  • Multi layered
  • High density interconnect (HDI)
  • Others

Market, By Substrate

  • Rigid
  • Flexible
  • Rigid-flex

Market, By Application

  • Consumer electronics
  • Automotive
  • Healthcare
  • IT & telecom
  • Industrial
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Brazil
    • Mexico
    • GCC


Authors: Preeti Wadhwani, Prasenjit Saha

Frequently Asked Questions (FAQ) :

Printed circuit board (PCB) market size was had recorded a valuation of around USD 60 billion in 2020 and will register a CAGR of over 3% through 2027.

Multi layered PCBs market had accounted for over 30% of the revenue share in 2020 and will record a CAGR of around 6% through 2027 owing to the rise in the number of components and requirement for high-density of connections in modern PCBs.

Rigid segment had accounted for more than 90% share of printed circuit board in 2020 and will witness a CAGR of over 1% through 2027.

Asia Pacific printed circuit boards market held a revenue share of over 60% in 2020 and will record a CAGR of more than 3% through 2027 with increasing deployment of 5G network across China, South Korea, and Japan.

Buy Now

Access to only 1 person; cannot be shared; cannot be printed
Access for 2 to 5 users only within same department of one company
Access to a company wide audience; includes subsidiary companies or other companies within a group of companies

Premium Report Details

  • Published Date: Apr 2021
  • Companies covered: 20
  • Tables & Figures: 188
  • Countries covered: 16
  • Pages: 150

Get a report that explains COVID-19 impact on this market

 Request Free Sample

Budget constraints? Get in touch with us for special pricing

Request Discount